Updated Oct 12, 2026
Urban Realty Partners Acquires Development Site In Flushing For $45 Million From The Macaluso Family
30-05 Whitestone Expressway Service Road
$45,000,000
$110/SF
Building Size
406,562 SF
Asset Type
Development Site
Closing
Jun 10, 2026
About this deal
AI
The asset involved in this transaction is a development site located at 30-05 Whitestone Expressway in the Flushing market. The joint venture capitalization for the property was finalized at a price of $45,000,000.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $45,000,000
- Buyer: Urban Realty Partners - Shelly Listokin
- Seller: The Macaluso Family
- Brokers: Michael Mazzara, Ethan Stanton & Brendan Maddigan - JLL
JLL facilitated the acquisition financing for this deal, showcasing their role in the financial arrangements associated with the transaction.
On the Map
$45,000,000
$110/SF
Development Site
View full map
Players
Market Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.35%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93